#####(Formal Wear (Dinner Jacket ON B4 Reading!)#####
NorrisT:
NEVIS ---"Is often selected for a compendium of laws that are ideal for planning such real estate investment structures as LLC, Trusts and Special Purpose Corp.s"
The recent changes in the real estate industry has led many HIGH Net-Worth investors, landlords, property managers and owners to seek the most efficient ways to conduct business.
The use of Offshore Trusts and/or LLCs is not always driven by tax avoidance motives, but often from a need to reduce the costs arising from reporting requirements imposed by highly bureaucratic heavy-regulating handed COUNTRIES.
The TRUST/LLC strategy encompasses many areas including
:
- risk management,
- private investor lending,
- alternative financing opportunities,
as well as Probate, Bankruptcy and/or Foreclosure Avoidance to name but a few.
MORE IMPORTANTLY:
The increasing litigious nature of society combined with concerns of economic uncertainty, aggressive tax policies and forced heirship laws which particularly affect the High Net Worth Individual, have led to a demand for the innovative asset-management, holding, and disposal conduits.
Expensive yet worth it for the High-Brow Investor wth much A$$ET to Protect (read butt to cover)!
Those already initiated don't have to ask what the cost will be to PROTECT...their 'hard-won' 'filled-to-the-brim' bank accounts...THEY WON'T even feel a stinging thing!
#####(Now Formal Wear (Dinner Jacket OFF!)#####
ALL:
Back to the REALITY of the rest of us Joes and Janes hacking it out in the familiar 'ole US of A:
A local alternative to NEVIS and/or other carribbean/Euro (offshore) solutions I'd recommend the 'Mainland' REIer Investigate uses of:
The No. American Realty Services(NARS) PACTrust™ and/or NEHTrust™.
Easier on the lint-filled pocket set as well as benieficial to the Upper-Crust!
We did it this year. I wanted to see/hear some ex post facto opinion. Long story, but we own 3 training aircraft on leaseback to flight schools in the midwest. The most insurance we can get is $1,000,000, limited to $100,000 per person. We have the corps./LLCs etc... set up, but, BIG butt, all bets are off in the courts. The Nevis, though expensive, seemed to be our best "alternative" to getting out of the aircraft business, which, by the way is an interesting story in itself (5 year property, 50% bonus depreciation in year one). If you have earned incom that needs off set, it can be a big help.
I hope we never need to prove it's (the Nevis strategy) benefit...[ Edited by norrist on Date 12/07/2003 ]
I've always heard good things as well about incorporating in Lichtenstein. Very private ... the place won't cooperate for squat with outside authorities unless a crime has been committed inside Lichtenstein.
Just ask hard questions up front about relative costs of crating and ann. costs of a local, or USA trust, as opposed to an off-shore one.
The trust setup Derrck mentions is a well known one, from very knowledgeable folk, but again, just ask questions so you fully understand cost before going in.
And FYI, any local Est. planning lawyer would be happy to give you quote on a trust in your state & the how-tos re same.
When making calls to local lawyers about this, just say you'd like conference to discuss estate planning & possible creation of a trust. It's possible to turn off a lawyer quickly by emphasizing asset protection, if he/she thinks or knows you're not multi-zillionaire, but they do trusts every day, in lieu of Last Wills, and they understand this need very well. ..then when you're with the lawyer, ask about your "incidental" need for asset protection from the litigous minded.
IMHO, most lawyers will give you first conference for free or very low cost.
We have our "local" trusts and Estate Planning done. This was (way) over and above. If the fee keeps something from happening, to me, it was/is worth it. Thanks to all! TN
I have a proposal on my desk from www.corporate-research.com and know the firm personnaly. This is an asset protection strategy, not a tax avoidance strategy.
Ideal for high net worth individuals that may be prone to litigation. The assets are unreachable and therefore will encourage litigants to settle rather than go for big rewards from the courts that they will never obtain.
You are talking about an offshore entity holding US property?
Yes. Disregarded entity to the IRS (not for tax savings), but for Asset Protection.
I've read up on this topic and made the conclusion that I won't mess with it until later, when I have more assets to protect.
#####(Formal Wear (Dinner Jacket ON B4 Reading!)#####
NorrisT:
NEVIS ---"Is often selected for a compendium of laws that are ideal for planning such real estate investment structures as LLC, Trusts and Special Purpose Corp.s"
The recent changes in the real estate industry has led many HIGH Net-Worth investors, landlords, property managers and owners to seek the most efficient ways to conduct business.
The use of Offshore Trusts and/or LLCs is not always driven by tax avoidance motives, but often from a need to reduce the costs arising from reporting requirements imposed by highly bureaucratic heavy-regulating handed COUNTRIES.
The TRUST/LLC strategy encompasses many areas including
:
- risk management,
- private investor lending,
- alternative financing opportunities,
as well as Probate, Bankruptcy and/or Foreclosure Avoidance to name but a few.
MORE IMPORTANTLY:
The increasing litigious nature of society combined with concerns of economic uncertainty, aggressive tax policies and forced heirship laws which particularly affect the High Net Worth Individual, have led to a demand for the innovative asset-management, holding, and disposal conduits.
Expensive yet worth it for the High-Brow Investor wth much A$$ET to Protect (read butt to cover)!
Those already initiated don't have to ask what the cost will be to PROTECT...their 'hard-won' 'filled-to-the-brim' bank accounts...THEY WON'T even feel a stinging thing!
#####(Now Formal Wear (Dinner Jacket OFF!)#####
ALL:
Back to the REALITY of the rest of us Joes and Janes hacking it out in the familiar 'ole US of A:
A local alternative to NEVIS and/or other carribbean/Euro (offshore) solutions I'd recommend the 'Mainland' REIer Investigate uses of:
The No. American Realty Services(NARS) PACTrust™ and/or NEHTrust™.
Easier on the lint-filled pocket set as well as benieficial to the Upper-Crust!
For more information Visit:
http://www.LandTrust.net
Cheerio and Happy Shore to Shore or Across the Pond mattress-stuffing to you all!
<IMG SRC="images/forum/smilies/icon_wink.gif"> [ Edited by DerrickAli on Date 12/07/2003 ]
We did it this year. I wanted to see/hear some ex post facto opinion. Long story, but we own 3 training aircraft on leaseback to flight schools in the midwest. The most insurance we can get is $1,000,000, limited to $100,000 per person. We have the corps./LLCs etc... set up, but, BIG butt, all bets are off in the courts. The Nevis, though expensive, seemed to be our best "alternative" to getting out of the aircraft business, which, by the way is an interesting story in itself (5 year property, 50% bonus depreciation in year one). If you have earned incom that needs off set, it can be a big help.
I hope we never need to prove it's (the Nevis strategy) benefit...[ Edited by norrist on Date 12/07/2003 ]
I've always heard good things as well about incorporating in Lichtenstein. Very private ... the place won't cooperate for squat with outside authorities unless a crime has been committed inside Lichtenstein.
Just ask hard questions up front about relative costs of crating and ann. costs of a local, or USA trust, as opposed to an off-shore one.
The trust setup Derrck mentions is a well known one, from very knowledgeable folk, but again, just ask questions so you fully understand cost before going in.
And FYI, any local Est. planning lawyer would be happy to give you quote on a trust in your state & the how-tos re same.
When making calls to local lawyers about this, just say you'd like conference to discuss estate planning & possible creation of a trust. It's possible to turn off a lawyer quickly by emphasizing asset protection, if he/she thinks or knows you're not multi-zillionaire, but they do trusts every day, in lieu of Last Wills, and they understand this need very well. ..then when you're with the lawyer, ask about your "incidental" need for asset protection from the litigous minded.
IMHO, most lawyers will give you first conference for free or very low cost.
We have our "local" trusts and Estate Planning done. This was (way) over and above. If the fee keeps something from happening, to me, it was/is worth it. Thanks to all! TN
This question evokes the question(s) my mother use to ask me--after the fact..
If I was negative on the idea, she still had 7 other children to get the answer she wanted hear.
I wasn't looking for any particular answer, simply to see if anyone else is using this strategy.
I have a proposal on my desk from www.corporate-research.com and know the firm personnaly. This is an asset protection strategy, not a tax avoidance strategy.
Ideal for high net worth individuals that may be prone to litigation. The assets are unreachable and therefore will encourage litigants to settle rather than go for big rewards from the courts that they will never obtain.
Gregg
[addsig]
Corporate Research did ours as well..
You know Jack then. An old friend and my attny.
Gregg
[addsig]
..and John. Do you know Ed Lyon? He is who referred me to C-R.